IMPACT OF SANCTIONS ON INTERNATIONAL ARBITRATION INVOLVING RUSSIAN PARTIES

On 26 June, an article from Dentons said that sanctions imposed by the US, the EU and other jurisdictions in relation to certain Russian individuals and legal entities, since 2014, have had a substantial impact on international arbitration involving Russian parties. One of the problems, it is said, particularly in the light of secondary sanctions, is that it is impossible for a business to predict whether its counterparty, which is not subject to any sanctions at the time of entering into a commercial transaction, will be sanctioned in the future, as new sanctions are regularly introduced against new subjects without any obvious transparent logic behind them.

https://www.dentons.com/en/insights/articles/2020/june/26/-/media/d606e8db66db4d53941ed2724d0b4e0f.ashx

 

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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